New Law
Increases FDIC Insurance Coverage
Consumers will benefit directly from a provision in the new Emergency
Economic Stabilization Act that immediately increases the basic FDIC
insurance coverage limits on your money in insured financial
institutions to $250,000. The new increased limits are fixed through
December 31, 2009. There has never been a better time to keep your money
in the bank!
The new temporary increased coverage not
only applies to accounts held by individuals, but also to accounts held
by corporations, partnerships, limited liability companies and
municipalities. There is no cost to the public for the FDIC insurance
coverage as it is paid for through assessments on insured financial
institutions. After December 31, 2009, the basic FDIC insurance coverage
limit will be $100,000 except for certain retirement accounts, like
IRAs, which will continue to receive FDIC insurance coverage up to
$250,000.Continued
PMI to present
Baylake Bank Tall Ship Festival 2010 PMI will stage the Baylake
Bank Tall Ship Festival on A
ugust 13-15, 2010 in downtown Green Bay.
After a successful 2006 tall ship festival in Green Bay in which PMI was
the event operator, PMI will be sole event organizer and operator in
2010.
Continued
Baylake Bank Answers Question, “Is My Bank Safe?”
Ongoing market turmoil has many consumers wondering about
the safety of their money in America’s banks. And while no
one is immune to current economic conditions, according to
the FDIC (Federal Deposit Insurance
Corporation), earnings
for the first quarter of 2008 show that Wisconsin banks
outperformed their peers nationally. That is due to the
Wisconsin banking industry’s historic conservative lending
culture, as well as to experienced management teams, solid
industry capitalization, low loan losses and almost
nonexistent subprime exposure.
Continued
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